PayPal (NASDAQ:PYPL) Upgraded at Bank of America

Bank of America upgraded shares of PayPal (NASDAQ:PYPL) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat.com reports. Bank of America currently has $103.00 price target on the credit services provider’s stock, up from their previous price target of $86.00.

Several other research analysts also recently issued reports on PYPL. Monness Crespi & Hardt lifted their price target on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and upped their price target for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. UBS Group lifted their price objective on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.70.

PayPal Stock Performance

Shares of PYPL opened at $90.75 on Monday. The company has a market capitalization of $90.98 billion, a PE ratio of 21.68, a P/E/G ratio of 1.64 and a beta of 1.44. PayPal has a 52-week low of $55.77 and a 52-week high of $93.66. The company has a 50-day simple moving average of $83.13 and a 200-day simple moving average of $71.77. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the firm earned $0.97 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts predict that PayPal will post 4.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Institutional investors have recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal during the third quarter valued at $26,000. Family Firm Inc. bought a new stake in PayPal during the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC grew its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its position in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares in the last quarter. Finally, Planning Capital Management Corp increased its stake in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the period. 68.32% of the stock is owned by institutional investors.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.